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Upstate consumer confidence continues to climb in January
Consumers in upstate New York became more willing to spend for the third straight month in January, expressing higher current confidence despite unchanged hopes for the future. The overall consumer-confidence index in upstate New York rose 3.1 points in January to 69.5, according to a monthly survey from the Siena (College) Research Institute (SRI). Current […]
Anaren cuts jobs as profit, sales decline
DeWITT — Declining sales and profit forced job cuts at DeWitt–based Anaren, Inc. (NASDAQ: ANEN) in recent months. The company has reduced its workforce of 1,000 employees by 15 percent since July, saving about $5 million on salaries and benefits. Anaren, which has locations in the Syracuse area, New Hampshire, Colorado, and China, did not
Tompkins Financial makes push into SE Pennsylvania market
ITHACA — Tompkins Financial Corp. (NYSE Amex: TMP) has some specific qualities it looks for in acquisitions, President and CEO Stephen Romaine says. “Things that are five or 10 years, short-lived, or things that are white hot,” Romaine explains. “Those are things that are not really on our radar screen.” Instead, the Ithaca–based banking company
First Niagara plans pause in acquisitions
First Niagara Financial Group, Inc. (NASDAQ: FNFG) plans to slow down its recent run of acquisitions and focus on running its business more effectively and efficiently. “It’s time for us to hit the pause button on M&A and ensure we deliver on the promise,” President and CEO John Koelmel said during a Jan. 26 conference
Report: Health-care law increased insurance coverage of 19- to 25-year-olds
The 2010 federal health-care reform law has increased the portion of young adults with health-insurance coverage, according to a national report from the Employee Benefit Research Institute (EBRI). The percentage of individuals ages 19-25 with private health-insurance coverage rose from 51 percent in 2010 to 55.8 percent in the first six months of 2011, according
New York moves to set up health-insurance exchange
A health-benefit exchange for New York State is back on the table, and it could change the insurance market for small businesses. But at this point, experts say it’s unclear exactly how. Gov. Andrew Cuomo included legislation in his 2012-13 proposed state budget that would set up a health-insurance exchange in New York. The exchange
Excellus reopening enrollment for two plans in Oswego County
Excellus BlueCross BlueShield will begin taking new members for its family Health Plus and HMOBlue Option plans in Oswego County starting Feb. 1. Excellus, which is Central New York’s largest health insurer, had stopped enrolling new members in those plans in recent years. It closed the plans to new enrollees in 2005 but continued to
Deconstructing the American Dream
I want to thank President Barack Obama for delivering his third “State of the Union” address, in which the 44th president of the United States laid out clearly his vision of the American Dream.The president embraces 100 years of “progressivism,” which rejects a free-market society. Today, we call progressivism “liberalism,” not to be confused with
New Internet-Security Standards for Financial Institutions
The Federal Financial Institutions examination Council (FFIEC) — a group of federal financial regulators empowered to issue uniform standards for most of the financial institutions in the United States — issued new guidelines to the nation’s federal credit unions, banks, and other financial institutions. It notified them that they will have to comply with new
Cuomo Shows the Courage to Tackle the Extreme Left
New York’s Gov. Andrew Cuomo intrigues me. What he is trying to do may impact the entire country some day. Cuomo is from the left, of course. He gets a lot of campaign money from the left. Teachers’ unions and the education lobby give him big bucks. So do the unions for state and municipal workers. And yet,
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